Oil slides 2% as U.S., allies consider releasing more oil | Reuters
Crude prices slide 2% on Thursday as the United States and its allies discussed a possible further coordinated release of oil from storage to help calm energy markets roiled by Russia's invasion of Ukraine.
Brent futures fell $2.63, or 2.2%, to $118.97 a barrel by 11:43 a.m. EDT (1543 GMT). U.S. West Texas Intermediate (WTI) crude fell $2.26, or 2.0%, to $112.67.
"With respect to the emergency stockpiles, these are ongoing discussions and all those tools are certainly on the table," U.S. Energy Secretary Jennifer Granholm said during a news conference at the International Energy Agency (IEA) in Paris. read more
IEA Executive Director Fatih Birol said IEA countries were united in seeking to radically reduce Russian oil and gas imports.
Prices fell more after ICE said it has increased the margins for May Brent crude futures by 19% effective March 25.
No comments:
Post a Comment